The 2007-2008 financial crisis is without precedent in the post-war period, a factacknowledged by the majority of economists. At the same time, the crisis is a ‘marginalmoment’ which unveils and helps us rethink the workings of contemporary capitalism. Thelatter is […]
The Revolution of 1821, like any other revolution, was a direct intervention of themasses into historical events. The forcible entrance of the masses into the realm ofrulership, which until that time determined their ‘destiny’, created a new political-state edifice and
1821. The Revolution, the Nation, the State
Spyros LapatsiorasUniversity of Crete, spirosla@gmail.comJohn MiliosNational Technical University of Athens, john.milios@gmail.com1. The prevailing heterodox approaches to neoliberalism and financializationA crucial aspect of many heterodox approaches to modern capitalism, finacializationand crisis is the idea that the domination of neoliberalism and of
Global finance as capital rule. The “creative” role of the ECB
Capitalism with Derivatives. A Political Economy of Financial Derivatives, Capital and Class, by D. Bryan and M. Rafferty, New York: Palgrave-MacMillan 2006. $ 85; pp. viii, 236 The book is a vitally interesting and innovative approach to finance, focusing on
Capitalism with Derivatives. A Political Economy of Financial Derivatives, Capital and Class
The subject of this paper is this rather peculiar ideological use of the phenomenon of automation asserting the imminent end of labour. In sections 2and 3 we will approach the history and the content of these conceptions. In the following
Who’s Afraid of Work?(Unemployment and the “end of labour”)
University of Chicago, May 14, 2021. Marx defines the social homogenisation of individual production processes by introducing the term abstract labour. Labour has a dual nature – on the one hand it is concrete labour (labour which produces a concrete
John Milios & George Economakis Austerity constitutes the cornerstone of neoliberal policies. On the surface, itworks as a strategy of reducing entrepreneurial cost. Austerity reduces labour costs ofthe private sector, increases profit per (labour) unit cost and thereon boosts the
The working class and the middle classes: Allies in a common anti-neoliberal strategy?
The AMP refers to the structural elements of a special type of pre-capitalist societies: a) absence of private property of the means of production, b) collective organization (economic, political and ideological) of the ruling class in a despotic state, c)
Through a critical rereading of Marxist class theory, a reexamination of the borderline between the working and middle classes is undertaken, focusing on the classidentity of middle classes with respect to the question of class place and classposition. In this
… In this context, financial risk is calculated on the basis of particular fetishistic representations of the events and outcomes of class struggle. Risk is the way capitalist agents perceive the future from an ideological point of view. Risk is
Commodity Fetishism vs. Capital Fetishism. Marx’s Reflections and Marxist Interpretations
The Marxist concept of value is radically different from the Ricardian con-cept of value as ‘labor expended’. Unlike the Ricardian theory of value, the Marxist theory of value is a monetary theory. In the Marxist system, the value of a
An Essay on Value, Crises and the Capitalist Mode of Production John Milios, Dimitri Dimoulis, George Economakis Marx’s Critique of Political Economy constitutes not a “correction” of Classical Political Economy’s “mistakes” or “misunderstandings”, but the formation of a new theoretical